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World - Sawnwood - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Apr 1, 2024

World - Sawnwood - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Aug 19, 2021

Lumber Prices Decrease in the U.S. but Stay High in Other Countries, Causing Significant Upheaval in the Global Market

IndexBox has just published a new report: 'World - Sawnwood - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

American lumber prices have decreased threefold, closing in on pre-COVID levels, which should drive global prices down. The change in lumber prices is largely influenced by slumping demand for real estate which became more expensive from diminished access. In Russia, the world's largest supplier, a sharp increase in lumber exports led to a shortage in the domestic market. Attempting to hold the price growth instigated by that, the Russian government implemented 10% export duties on lumber until the end of 2021. Due to this, the main importers of Russian goods may opt for other suppliers.

Key Trends and Insights

Lumber prices in the U.S. are plummeting and nearing pre-COVID figures while pulling global prices down with them. After reaching a peak above $1600 per board foot in May 2021, lumber futures on the Chicago Mercantile Exchange in August dropped below $500 per board foot.

The main reason for the decrease in prices is the slumping demand for timber-based materials in the construction sector. According to the U.S. Census Bureau, in June, new home sales dropped by 6.6% in the U.S. compared with May and consisted of 676k units. The average selling price for new homes increased from $418.6k in January to $437k in April where it peaked. In May the average selling price for new homes began to fall and in June was $428.7k. An increase in the interest rate in the U.S. and a decrease in mortgage credit availability along with growing costs of new housing have hampered the demand for real estate. Besides this, as tourism recovers, people are beginning to spend more on vacations rather than renovations and purchasing real estate.

While prices are starting to trend downward in the U.S., other countries are still acutely feeling the effects of the sharp increase in global prices for lumber. In Russia, the world's largest exporter, lumber prices on the domestic market skyrocketed in the second quarter of this year and reached their highest value in June. This increase was caused by a shortage of lumber within the country due to rapid growth in exports, particularly to China. Based on figures from Russia's Federal Customs Service, IndexBox calculates that from January through May 2021, exports of rough sawnwood from Russia grew from 963k tons to 2.2M tons. Within that period, shipments to China only grew from 569k tons to 1.3M tons.

To hold back prices on the domestic market, the Russian government implemented 10% export duties on sawn softwood and raw hardwood from July through December 2021. This could cause exports from the country to drop. Russia makes up 52% of lumber imports to China and approximately 21% of shipments to Egypt. As a result of the new regulations, alternative suppliers may strengthen their position in Russia's key foreign markets.

Global Sawnwood Production by Country

In 2020, approx. 503M cubic meters of sawnwood were produced worldwide; with an increase of +2.3% compared with 2019 figures. In value terms, sawnwood production reached $187B in 2020 estimated in export prices. The total output value increased at an average annual rate of +5.0% from 2012 to 2020.

The countries with the highest volumes of sawnwood production in 2020 were China (99M cubic meters), the U.S. (82M cubic meters) and Russia (46M cubic meters), with a combined 45% share of global production. In 2020, the biggest increases were in China, while sawnwood production for the other global leaders experienced more modest paces of growth.

Global Sawnwood Exports by Country

In 2020, global exports of sawnwood were estimated at 177M cubic meters, stabilizing at 2019 figures. In value terms, sawnwood exports reduced modestly to $37.4B (IndexBox estimates) in 2020.

In 2020, Russia (35M cubic meters) and Canada (31M cubic meters) were the largest exporters of sawnwood in the world, together constituting 38% of total exports. Sweden (16M cubic meters) took the next position in the ranking, followed by Germany (12M cubic meters) and Finland (8.7M cubic meters). All these countries together held approx. 21% share of total exports. The following exporters - Austria (7.4M cubic meters), the U.S. (6.5M cubic meters), Belarus (5.8M cubic meters), Latvia (4.5M cubic meters), Thailand (4.2M cubic meters), Ukraine (4.2M cubic meters), Brazil (3.6M cubic meters) and Chile (3.3M cubic meters) - together made up 22% of total exports.

In value terms, the largest sawnwood supplying countries worldwide were Canada ($7.8B), Russia ($4.8B) and Sweden ($3.4B), together accounting for 43% of global exports. The U.S., Germany, Finland, Austria, Thailand, Latvia, Brazil, Chile, Ukraine and Belarus lagged somewhat behind, together comprising a further 34%.

The average sawnwood export price stood at $211 per cubic meter in 2020, reducing by -1.9% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($396 per cubic meter), while Belarus ($102 per cubic meter) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the global sawnwood market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 1632 - Sawnwood, coniferous
  • FCL 1633 - Sawnwood, non-coniferous all

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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